Guggenheim Downgrades Oasis Petroleum (OAS) to Neutral

Guggenheim downgraded shares of Oasis Petroleum (NYSE:OAS) from a buy rating to a neutral rating in a report issued on Wednesday, MarketBeat reports.

OAS has been the subject of a number of other reports. BMO Capital Markets set a $11.00 target price on Oasis Petroleum and gave the stock a buy rating in a research report on Tuesday, October 24th. Jefferies Group set a $13.00 target price on Oasis Petroleum and gave the stock a buy rating in a research report on Tuesday, August 29th. Evercore ISI raised Oasis Petroleum from an in-line rating to an outperform rating in a research report on Friday, November 3rd. Morgan Stanley decreased their target price on Oasis Petroleum from $10.00 to $9.00 and set an equal weight rating for the company in a research report on Wednesday, October 18th. Finally, KeyCorp reissued an overweight rating on shares of Oasis Petroleum in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $12.55.

Shares of Oasis Petroleum (NYSE OAS) opened at $7.84 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 0.76. Oasis Petroleum has a 52-week low of $6.69 and a 52-week high of $16.73.

Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Tuesday, November 7th. The energy producer reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04. The company had revenue of $304.70 million during the quarter, compared to the consensus estimate of $264.72 million. Oasis Petroleum had a negative return on equity of 1.29% and a negative net margin of 5.23%. Oasis Petroleum’s revenue was up 71.9% on a year-over-year basis. During the same period last year, the business posted ($0.19) earnings per share. research analysts predict that Oasis Petroleum will post -0.07 earnings per share for the current fiscal year.

In other news, VP Nickolas J. Lorentzatos sold 10,985 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $8.77, for a total value of $96,338.45. Following the completion of the transaction, the vice president now directly owns 182,351 shares of the company’s stock, valued at $1,599,218.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of OAS. Teacher Retirement System of Texas boosted its holdings in shares of Oasis Petroleum by 6.3% in the second quarter. Teacher Retirement System of Texas now owns 18,688 shares of the energy producer’s stock worth $150,000 after acquiring an additional 1,100 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Oasis Petroleum by 90.4% in the second quarter. Bank of New York Mellon Corp now owns 5,755,177 shares of the energy producer’s stock worth $46,330,000 after acquiring an additional 2,732,234 shares during the period. Turner Investments LLC bought a new position in shares of Oasis Petroleum in the second quarter worth $536,000. Marshall Wace North America L.P. bought a new position in shares of Oasis Petroleum in the second quarter worth $167,000. Finally, William Blair Investment Management LLC boosted its holdings in shares of Oasis Petroleum by 21.4% in the second quarter. William Blair Investment Management LLC now owns 1,579,190 shares of the energy producer’s stock worth $12,712,000 after acquiring an additional 278,669 shares during the period. 93.94% of the stock is owned by hedge funds and other institutional investors.

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About Oasis Petroleum

Oasis Petroleum Inc is an independent exploration and production company. The Company is focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. Its segments include Exploration and Production, Well Services, and Midstream Services.

Analyst Recommendations for Oasis Petroleum (NYSE:OAS)

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